Translated from the original Mandarin
EXHIBIT
10.3
Translated
from the original Mandarin
Party A
(Landlord) Xxxx Xxx
Party B
(Tenant) SinoHub SCM Shanghai, Ltd.
Based on
the laws and regulations of the People’s Republic of China, Party A and Party B
agree on the following terms:
|
1.
|
Leasing
property, area, using purpose
|
|
|
a)
|
Leasing property:
3/F, Xx 000, Xxx Xxxx Xxxx, Xxxxxxx Export Processing Zone,
Putong, Shanghai. The area is 1122.63m2
|
|
|
b)
|
This property shall be used as
both a warehouse and an office. Party B shall notice Party A to change
the using purpose and finish relevant
procedures.
|
|
|
c)
|
Party
B shall take the management for the whole
property
|
|
2.
|
Leasing
period
|
|
|
a)
|
From
2006-3-23 to 2011-3-22
|
|
|
b)
|
From
2006-3-23 to 2006-4-22, no rent charged for this decoration
month.
|
|
|
c)
|
Party
B shall negotiate with Party A about renewing this lease 90 days before
the Agreement expire date.
|
|
3.
|
Leasing
items
|
|
|
a)
|
Two
days after this Agreement goes into effect, Party A shall handover leasing
items to Party B, Party B agrees to lease the property based on the
current situation of leasing items.
|
|
4.
|
Rent
|
|
|
a)
|
Deposit
shall be 2 months’ rent, RMB51,219
|
|
|
b)
|
For
the first 3 years, the rent shall be RMB0.75/m2/day.
After the first 3 years, the rent shall be RMB0.79/m2/day,
the change date shall be 2009-3-23
|
|
|
c)
|
Management
fee and agency fee: Party A shall take all management fee and agency
fee.
|
|
|
d)
|
Party
B shall apply for electricity and pay for all
expenses.
|
|
5.
|
Payment
terms
|
|
|
a)
|
Party
B shall pay 3 months’ rent in advance, with 2 months’ rent as
deposit
|
|
|
b)
|
After
signing the Agreement, Party B shall pay Party A the deposit of RMB51,219,
and the first 3 months’ rent of RMB76829. The total amount paid at signing
shall be RMB128048. Party A shall return the deposit to Party B within 5
days after the termination of
tenancy.
|
|
6.
|
Leasing
items transfer
|
|
|
a)
|
Leasing
items transfer shall not affect Party B. Party B has priority to purchase
leasing items. If Party B cannot use the property because of leasing items
transfer, Party A shall pay for any loss according to 13.
(d)
|
|
7.
|
Facilities
using, maintenance and repair
|
|
|
a)
|
Party
B shall be in charge of facilities maintenance and repair, Party A has the
right to inspect facilities
condition.
|
|
|
b)
|
Party
B shall take actions to prevent from any kinds of error or
danger.
|
|
|
c)
|
Party
B shall be responsible for any damage caused to leasing
items.
|
|
8.
|
Fire
protection
|
|
|
a)
|
Party
B shall be in compliance with The Fire Protection Regulation of The
People's Republic of China, otherwise Party B shall be responsible for all
loss
|
|
|
b)
|
Fire
extinguisher shall be allocated to the
property
|
|
|
c)
|
Hot
Work Permit shall be gotten from fire control department before
electric welding, gas welding
|
|
|
d)
|
Party
A has the right to inspect fire protection system at the property during
normal working hours
|
|
9.
|
Insurance
|
|
|
a)
|
Party
A shall buy insurances for leasing items, and Party B shall buy insurances
for its own property (liability insurance
included).
|
|
10.
|
Property
management
|
|
|
a)
|
After
the tenancy termination, Party B shall clean the property, otherwise Party
B shall pay for the expenses to clean the
property.
|
|
|
b)
|
Any
activity shall be in comply with laws and regulations of China. Otherwise
Party B shall be responsible for all
loss.
|
|
11.
|
Decoration
terms
|
|
|
a)
|
Any
decoration plan shall be approved by Party A and shall not affect the
neighbor’s activity.
|
|
|
b)
|
If
the decoration requires changing the building structure, approval shall be
get from the construction company.
|
|
12.
|
Property
sublet
|
|
|
a)
|
Party
B shall not sublet the property to a third
party
|
|
13.
|
Early
termination of Tenancy
|
|
|
a)
|
If
Party B delays the rent for 15 days, Party A has the right to stop
providing facilities, and Party B shall be responsible for all
loss
|
|
|
b)
|
If
Party B delays the rent for 30 days, Party A has the right to terminate
this Agreement, and Party A has the right of lien on Party A’s
property.
|
|
|
c)
|
Party
B shall not terminate this Agreement without the approval of Party A.
Party B shall notice Party A 90 days in advance and fulfill the following
procedures to make an early
termination:
|
|
|
i.
|
Return
leasing items to Party A
|
|
|
ii.
|
Pay
off all expenses
|
|
|
iii.
|
Make
compensation of 3 month’ rent to Party
A
|
| Party A shall return the deposit to Party B within 5 days after Party B finishes the above procedures | ||
|
|
d)
|
Party
A shall not terminate this Agreement without the approval of Party B.
Party A shall notice Party B 90 days in advance and fulfill the following
procedures to make an early
termination:
|
|
|
i.
|
Return
left rent to Party B
|
|
|
ii.
|
Return
deposit to Party B
|
|
|
iii.
|
Make
an compensation of 3 month’ rent to Party
B
|
Party B
agrees to move out of the property 15 days after Party A finish above
procedures.
|
14.
|
Exceptions
clause
|
|
|
a)
|
If
this Agreement cannot be further implemented due to government reason or
force majeure, see 14 (b)
|
|
|
b)
|
If
either Party cannot implement this Agreement due to natural disaster, war
or other unforeseeable events, this Party shall notice the other Party
with written official proof, and this Party is not responsible for any
loss
|
|
15.
|
Termination
of this Agreement
|
|
|
a)
|
Party
B shall move out of the property after the termination of this Agreement,
otherwise Party B shall pay double rent to Party A. Party A has the right
to decline a double rent and clean off the property without approval of
Party B.
|
|
16.
|
Advertising
|
|
|
a)
|
If
Party B wants to set up advertising board at the property, Party B shall
finish all necessary procedures required by
government
|
|
|
b)
|
If
Party B wants to set up advertising board around the property, Party B
shall get written approval from Party A and abide by government
regulations.
|
|
17.
|
Taxes
and dues
|
|
|
a)
|
Expenses
caused by this Agreement shall be taken by both Parties; Party A shall be
responsible for handling all the
procedures.
|
|
18.
|
Notice
|
|
|
a)
|
Any
notice in concern with this Agreement shall be in writing and shall be
delivered by registered mail. Notice letters shall be deemed as properly
received 10 days after delivery to the agreed
address.
|
|
19.
|
Applicable
law
|
|
|
a)
|
Controversy
shall be handled by arbitration commission of
Shanghai
|
|
|
b)
|
This
Agreement applies to the laws and regulations of
PRC
|
|
20.
|
Miscellaneous
clause
|
|
|
a)
|
Parties
hereto may revise or supplement through negotiation matters not mentioned
herein.
|
|
|
b)
|
This
Agreement is made in octuplicate and each Party holds 4
copies.
|
|
21.
|
Validity
of treaty
|
|
|
a)
|
This
Agreement goes into effect right after both Parties sign and chop on the
Agreement.
|
| Party A | Party B |
